Spain and Italy 'could be the places for Brits to escape debts'

New research undertaken by NatWest International Personal Banking suggests that Spain and Italy could be the places for debt-stressed Brits to move to in order to escape money worries.

The bank's expat wealth ranking survey concluded that British-born people living and working in Spain and Italy fare the best as they not only earn a good wage but also endure a lower cost of living.

This means that their money works hardest for them.

The survey claimed that British expats could see a 43 per cent increase on their present salary if they moved abroad.

The average wage for workers in the UK is currently £47,000 - for expats working abroad it is £67,000.

Ignoring the cost of living, United Arab Emirates seems to be the best place to up sticks to. Over there professionals earn a whopping average of £79,000 a year.

Many countries stand between them and Portugal where the average wage is still a respectable £58,000 a year.

The European Union is currently trying to standardise the terms and conditions of loans in its member states to bring more consistency to the industry.

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